SINGAPORE: Total employment in the second quarter associated with 2022 rose, generally due to an increase in foreign labour, as Singapore relaxed border restrictions from April, according to advance quotes from the Ministry of Manpower (MOM) upon Friday (Jul 29).
MOM said that meters ore residents found work, while non-resident work rebounded strongly from Apr to June.
Unemployment rates continued to be at pre-COVID ranges, and the number of retrenchments also stayed low.
Total employment, excluding migrant household workers, expanded simply by 64, 400 or 1 . 9 % in the second one fourth. This is at a faster pace compared to the prior quarter (42, 000 or 1 . 2 per cent).
The increase had been largely due to hiring of foreign workers in the construction and manufacturing sectors.
“With the significant relaxation of boundary controls since Apr this year, employers in such sectors have been hiring to backfill positions and meet rising demand, ” said MOM in a discharge on Friday.
At the same time, more inhabitants have found employment, especially in sectors like details and communications, expert services, and financial services, preliminary data shows.
UNEMPLOYMENT REDUCED
Unemployment rates have been trending downwards since peaking within October 2020, and held steady right after reaching pre-COVID amounts in February.
In June 2022, the overall unemployment rate was 2 . 1 per cent. It was with 2 . 9 percent for residents, plus 3. 1 % for citizens.
The number of retrenchments continued to be low, at 1, 000 in the second quarter of this season.
As with recent quarters, business reorganisation or restructuring continued to be the top reason for layoffs, said MOM.
The ministry said it expects non-resident employment to continue growing at a “robust pace” as it catches as much as its pre-COVID level. Based on latest estimations, it remains beneath 2019 levels by about 10 per cent.
“Resident employment, which is expected to be regarding 4 per cent over 2019 levels, will likely see subdued development given the low resident unemployment rate, inch said the ministry.
MOM furthermore warned that global headwinds, including solid inflationary pressures, the particular ongoing Russia-Ukraine turmoil, and a resurgence of the COVID-19 pandemic in major economies for example China, may dampen demand.
The particular Labour Market Survey 2Q 2022, due for release in mid-September, will provide more information on the employment scenario in Singapore.